Jadwa REIT Saudi Fund completes its acquisition of The Boulevard Riyadh Center
Jadwa REIT Saudi Fund completes its acquisition of The Boulevard Riyadh Center, owned by NMR Real Estate Company. The center was opened in the year 2016 AD and as one of the company's unique projects in terms of design, diversity of services, and strategic location, which is located in the most prestigious neighborhoods of Riyadh city and its closeness to the King Abdullah Financial Center and the historic Diriyah Gate.
The sale agreement of The Boulevard Riyadh
Jadwa Investment Company and on behalf of Jadwa REIT Fund which is the leading Saudi company in the field of investment management and advisory, signed a sale and purchase agreement to acquire the Riyadh Boulevard from NMR Real Estate Company that is specialized in the field of commercial and residential real estate development, with a total value equivalent to 320 million Saudi riyals. Riyadh Boulevard is located on Prince Turki bin Abdulaziz Al-Awal street. It is considered one of the luxurious real estate centers that located in the heart of the lively Hittin district in Riyadh, in addition to being overlooking to the King Abdullah Financial District. The Boulevard Commercial Center encompasses a 5-star boutique hotel, a health club for men, and another for women, in addition to administrative offices, distinctive boutiques, prestigious restaurants and cafes and overall top-notch services. The Jadwa Investment Company has stated that the importance of this real estate as a strategic option that enhances the value of the assets of Jadwa REIT Saudi Fund and strengthens its position at the level of real estate investment funds traded in the Kingdom